PREFACE
MBA is a professional course wherein for a student to posses only theoretical
knowledge alone is not enough but also to improve practical skill which is
helpful to them in every field of life in their future. Students need to have a
practical implementation in the currentscenario.“Experience is the best teacher's.”
This saying is very well applicable in everyone's life.Therefore as a student of
management it must apply to me also. Then the question
arisest h a t   f r o m   w h e r e   w e   c a n   g e t   t h i s   e x p e r i e n c e .   O b v i o u s l y
w e   m u s t   u n d e r g o   p r a c t i c a l Training. To serve this purpose I had
undergone eight weeks summer training at ICICIsecurities limited and as an
outcome I have prepared this project
report.T h i s   pr o j e c t   r e p or t   o n   “ C O M P E T I T I V E   A D V A N T A GE   O F   I C
I C I   DI R E C T ”   . T h i s  project also deals with various activities of ICICI
securities limited. The experience of this training will be useful in my
future.It is my pleasure to present work after I had finished my training at
ICICI securitieslimited. This training has expanded my horizon of
knowledge in practical as well astheoretical, which is vital for any student in
management level studies. After completionof this training I come to know that
when we study theory but practice it is very
difficultt o   u n d e r s t a n d .   T h e r e f or e   t o   s e r v e   d u a l
p u r p o s e   of   p r a c t i c a l   t r a i n i n g   h a s   b e e n   m a d e compulsory for the student
of MBA.S u c h t r a i n i n g p r o m o t e s a s t u d e n t t o b o o s t h i s p o t e n t i a l s
a n d t h e i n n e r q u a l i t i e s , a n d thereby students come to know about their
reality that how the theoretical knowledgeworks in actual sense in any unit.
This has indeed proved to be very useful to me.A1l information given here are
correct and true according to me, and sincerely apologizeif incorrect data.
 
ACKNOLEDGEMENT
First of all I would like to express my sincere gratitude to
M r . S u b h e n d u D a s , A r e a manager of ICICI securities limited, Athwagate Surat
brance for allowing me for summer training at ICICI securities limited.I h e a r t i l y
feel thanks to Mr.Bhavesh Patel ,sales manager who provide me
v a l u a b l e suggestions and guidance at every stage of my summer
training.I would like to express my gratitude to ; my project mentor and ot
her f a c u l t y   m e m b e r   o f   S O M   L A L I T   I N S T I T U T E   O F   B U S I N E
S S   M A N A G E M E N T , Ahemedabad for guide me.I would like to thank
following persons who help me lot in my summer training.
•
Mr.Imran Dabhi, sales manager, ICICI securities limited
•
Mr.Jignesh Nayak, sales manager, ICICI securities limited
•
Mr.Amit Kumar, sales manager, ICICI securities limitedI also thank to sales
Executive for opening Demte account, which have been helpful andfaithful
enough to give the required information, which helped my project to be
greatsuccess, which was the main and important part of my project. I feel happy
indeed and ithas given me a lot of pleasure in company.Last but not the least I
would like to extent my deep sense of gratitude to my family andall whom guided
and helped me during my training period.Place: Surat Sunil K. PatelDate: July-
2008
INTRODUCTION
1.1 GENERAL INTRODUCTION PHYSICAL CERTIFICATES - THE
TRADITIONAL WAY
T h e I n di a n c a p i t a l m a r k e t h a s s e e n a n u n p r e c e d e n t e d b o o m i n i t s
a c t i v i t y i n t h e l a s t decade. We can now boast of a very large investor
population and substantial volumes
of t r a d e .   H o w e v e r ,   t h i s   s u r g e   i n   a c t i v i t y   h a s   b r o u g h t
w i t h   i t ,   n u m e r o u s   p r o b l e m s   t h a t threaten the very survival of the Capital
market in the long run. A closer inspection of the problems would reveal that most
of them arise due to the intrinsic nature of paper basedtrading and settlement.This
century-old system of trading and settlement requires handling of huge volumes
of  paper leading to increased costs and inefficiencies. Simultaneously,
they expose theinvestors to greater risks putting them at a disadvantage. Some of
these areas are:

Unwarranted delay in transfer of shares. It takes 30 to 60 days for the investors to
getthe shares lodged in their name;

Possibility of forgery on various documents leading to bad deliveries, legal
disputesetc;

Theft of shares leading to defective title in shares purchase
d   a n d   s u b s e q u e n t litigation;

Prevalence of fake certificates in the market;

Mutilation or loss of share certificates in transit;

Increased transaction costs due to stamp duty, fake shares, rejection by registrars,
etc.This has made the investors, both retail and institutional, wary of
entering the Indiancapital market. In this scenario, it was felt that the
getting up of a depository and theintroduction of scrip less trading and
settlement is imperative for the efficient functioningof the market.The Indian
capital market has witnessed numerous changes in the recent past. Historically
stock market booms have always resulted in a number of problems for 

the lay investor. Sometimes, the problem may magnify them and threatens to
engulf theentire capital market. A close introspection of these problems
will reveal that most of them are due to intrinsic nature of paper based trading
and settlement. All this may
haved r i v e n   a w a y   m a n y   p o t e n t i a l   i n v e s t o r s   a n d   F o r e i
g n   I n s t i t u t i o n a l   I n v e s t o r s . Dematerialization of shares is looked
upon as the remedy for the ‘paper’ based problems.With effect from august 19,
1998 SEBI has granted certificate of registration of Central Depository Services (I)
Ltd. (CDSL).Yet even with demat, from the point of view of investors there are
numerous  p r o b l e m s . H e r e W a l l e t W a t c h i n t r o d u c e s y o u t o s e t t i n g
u p o f a d e m a t a c c o u n t a n d introduction of scrip less trading and settlement.
There are numerous benefits of this scripless trading and settlement, which Wallet
Watch has discussed in detail.

 
the lay investor. Sometimes, the problem may magnify them and threatens to
engulf theentire capital market. A close introspection of these problems
will reveal that most of them are due to intrinsic nature of paper based trading
and settlement. All this may
haved r i v e n   a w a y   m a n y   p o t e n t i a l   i n v e s t o r s   a n d   F o r e i
g n   I n s t i t u t i o n a l   I n v e s t o r s . Dematerialization of shares is looked
upon as the remedy for the ‘paper’ based problems.With effect from august 19,
1998 SEBI has granted certificate of registration of Central Depository Services (I)
Ltd. (CDSL).Yet even with demat, from the point of view of investors there are
numerous  p r o b l e m s . H e r e W a l l e t W a t c h i n t r o d u c e s y o u t o s e t t i n g
u p o f a d e m a t a c c o u n t a n d introduction of scrip less trading and settlement.
There are numerous benefits of this scripless trading and settlement, which Wallet
Watch has discussed in detail.
COMPANY PROFILE:
2.1 INTRODUCTION ABOUT THE COMPANY
Even as the European and American stock markets reckon with
t h e c h a n g e s b r o u g h t a b o u t b y t h e I n t er n e t a n d I T / t e l e c o m
a d v a n c e s , t h e I n d i a n s t o c k m ar k e t h a s q u i c k l y moved to global
standards.The sheer breadth of the changes since the National Stock
Exchange startedoperations in 1994 and with the Securities and Exchange
Board of India (SEBI) alsodriving the changes in the market system, have
enabled the Indian market to move wellahead in just five years.Even as online
automated trading and better clearing and settlement mechanismshave been put
in place, perhaps, the most significant change in the Indian market has
been the coming of paperless trading; it may well be a precursor to the next big
changes – rolling settlements and Internet trading. But the push towards paperless
trading stands outeven in a decade when the market landscape has changed beyond
recognition.Dematerialization (holding and trading securities in paperless mode)
was analien concept in India before 1995; in five years, large quantities of
paper have beenflushed out of the system. Since the entry of the foreign
institutional investors (FIIs) andonline trading, the old system, laden with
paperwork at every conceivable stage, was outof place in an otherwise fast trading
environment.As the FIIs complained about the paperwork as a major
constrainingfactor, the government and SEBI took notice. The requisite legislative
changes were putin place quickly - the Depositories Act, 1996 was passed and the
NSE, with the UTI andthe IDBI, set up the National Securities Depository Ltd
(NSDL).But the depository concept did not gain popularity; the FIIs whichhad
clamoured for its introduction, now ignored it. The reason: Lack of
liquidity. But,unless the institutional investors stepped in, there could be
no liquidity. This stalematefrustrated the push for a paperless
environment.Until SEBI stepped in, that is.With regulatory pushes SEBI, in
phases, made demat trading in stocksmandatory for institutions first and, then, for
all investors. Mandatory paperless trading,forced the FIIs to dematerialise their
holdings quickly.As a consequence of SEBI's action, most major stocks are traded
in the paperless mode now. The second phase will involve some 200
stocks in a few monthst i m e . T h e e f f e c t o f SE B I ' s a c t i o n i s e v i d e n t
f r o m N S D L ' s s t a t i s t i c s . A t o t a l o f 6 9 8 companies, with a market
capitalisation of Rs. 7,37,300 crores (almost 80 per cent of themarket capitalisation
of all listed stocks), is enrolled with the NSDL.With 13.65 billion shares in the
demat mode, nearly 19 million
investor a c c o u n t s ,   a n d   s e c u r i t i e s   v a l u e d   a t   R s .   3 , 9 6 , 8 0 0   c
r o r e s   ( $ 9 1   b i l l i o n s )   a c t u a l l y dematerialised, the concept of
dematerialisation can be said to have taken roots. If the regulatory direction
is any indication, more paper will be flushed out of the system in thenext two
years.The costs of dematerialisation have declined as the NSDL slashed charges
asv o l u m e s   e x p a n d e d   a n d   t h e   c o m p e t i t i o n   _   f r o m   t h e   C e n t r a l   D e p o s
i t o r y   S er v i c e s   L t d (CSDL) floated by the BSE _ started in 1999 second half. A
series of measures by SEBIand NSDL also helped ease the strain faced by retail
investors.From a long-term perspective, demat in India is of
considerablesignificance. Not only has the general trading environment
improved and quickened,volumes too have perked up, even in the demat
segment. With demat taking off, there isnow scope for an improvement in the
quality of investor services.As a consequence of dematerialisation, the Indian
market is also well  p r e p a r e d   f o r   w e b -
based trading though the quality of telecom infrastructure a
n d inadequacies in the banking system-stock exchange linkages may cause delays.
Notably

with regard to the thrust towards paperless trading, the Indian market
managed in threeyears what took even the US much longer.With a high degree
of dematerialisation a reality, the stage is set for rolling settlementsand
web-based trading. Once these are in place, the Indian market will have moved
closer to the standards in advanced markets, such as the US. And paperless trading
may well bethe catalyst for such a rapid advancement.
2.2 HISTORY OF THE ORGANIZATION:
The dematerialized form of shareholding and the depository mode of trade (scrip
less trade) have been in operation in developed financial markets for over 15years.
In India, the first depository commenced operation a decade back and is
relativelynew. The Indian financial market is in need of both scrip-based
and scrip less trade, butthe investing community, which is used scrip-based
trade, is bound to take some time
toa c c e p t   t h e   l a t t e r .   T h e   s c r i p   l e s s   t r a d i n g ,   t i l l   n o w   a   d o m a i n  
o f   t h e   w e s t e r n   w o r l d , institutional investors and GDR holders is now
mandatory even for small investors. Allthose who hold physical share certificates
have to get them dematerialized. If they do not,they will be forced to do so at the
time of sale.The countless numbers of conservative Indians have to digest
it,whether they like it or not. First, the institutional investors succumbed. Then the
high networth individuals, trading in more than a certain numbers of shares, were
forced to givein. now, it is the turn of the small investors of select-companies.With
their share certificates being replaced by small slips and receipts,naturally the
average investors will have their share of fears and apprehensions. It
isnecessary to educate and convince these investors about the benefit of Demat
rather thanforcing them to take part in the game.
2.3 Company’s Vision:
T o m a k e I C I C I D i r e c t t h e d om i n a n t o n l i n e s h a r e t r a d i n g b y w o r l d
c l a s s p e o p l e a n d services.
This we hope to achieve by:
•
Understanding the needs of customers and offering them superior product
andservice.
•
Leveraging technology to service customers quickly and conveniently.
•
Developing and implementing superior risk management and investment
strategicto offer sustainable and stable return to our shareholder
 
•
Providing and enabling environment to foster growth and le
a r n i n g   f o r   o u r   employees
2.4 Company’s mission:
To judged by their sales and earnings growth rates than on the absolute
value of their sales and earnings. Look for companies that consistently grow
faster than there peers.Investors prefer companies that increase profit margins --
the percentage of salesthat they keep -- every year. This is accomplished either by
lowering expenses or raising prices. Look for companies that consistently
find ways to squeeze more profits out of sales than their peers.The financial
health of a company is dependent on a combination of profitability,short-term
liquidity and long term liquidity. Companies, which are profitable, but
have poor short term or long term liquidity measures, do not survive the
troughs of the tradecycle
2.5 Major Player of the IndustryS. S. Kantilal Ishwarlal Securities Pvt. Ltd.
(sharekhan.com ):
Sharekhan, India's leading stockbroker is the retail arm of 
SSKI, and offers youdepository services and trade executio
n   f a c i l i t i e s   f o r   e q u i t i e s ,   d e r i v a t i v e s   a n d commodities backed with
investment advice tempered by decades of broking experience.A research and
analysis team is constantly working to track performance and
trends.T h a t ' s w h y S h a r e k h a n h a s t h e t r a d i n g p r o d u c t s , w h i c h a r e
h a v i n g o n e of t h e h i g h e s t success rates in the industry. Sharekhan is
having 240
share shops in
110
cities;
thelargest chain of retail share shops in India is of Sharekhan.In future,
Sharekhan is planning to enter in Mutual funds, Insurance sector and
bankings e c t o r t o e x p a n d b e y o n d t h e m ar k e t c u r r e n t l y c o v e r e d b y
i t . A n d i t h a s s t a r t e d M F (Mutual Funds) on priority basis but wants to grow
in it.
ICICI WEB TRADE LTD. (lCICIdirect.com):
ICICIdirect.comwasthefirstentrantintoe-broking.
ICICdirect.com provides the 3-in-l to the users which ties in their saving bank
account and their Demat account to their  brokerage account
electronically. This integration ensures that money is transferredto/from
their bank account and the shares are transferred from/to their Demat
accountautomatically without writing any cheques or transfer instructions
while carrying outtheir trades in shares.ICICldirect.com has the option of trading
in shares in cash, margin or spot segments. Aninvestor can also invest
in 14 Mutual Funds (Prudential ICICI MF, Franklin TempletonIndia MF,
Alliance Capital MF, 1M MF, Birla Sun Life MF, Sundaram MF, IL&FS
MF,P r i n c i p a l   M F ,   H D F C   M F ,   S t a n d a r d   C h a r t e r e d   M F ,   R e l i a n
ce Capital MF, Kotak
M a h i n d r a M F , T AT A M F a n d D SP M E R R I L L L Y N C H M F )
t h r o u g h t h e i r t r a d i n g account.
5Paisa.com:
5paisa is the trade name of India Info line Securities Private Limited (5paisa),
member of  National Stock Exchange and The Stock Exchange, Mumbai.
5paisa is a wholly ownedsubsidiary of India Info line Ltd, India's leading and
most popular finance and investment portal. 5paisa has emerged as one of leading
players in e-broking space in India.T h e c o m p a n y ' s b r o k er a g e i s o n e o f t h e
l o w e s t i n t h e i n d u s t r y . I t a l s o pr o v i d e s t h e research on commodities.
Investors can benefit from its analysis and advice available atthe click of the
mouse. For those who prefer to trade the traditional way, India Info lineinvestor
points are available across the
country.I n d i a   I nf o   l i n e   w a s   f o u n d e d   b y   a   g r o u p   of   p r of e s s i o n a l s   i n  
1 9 9 5 .   I t s i n s t i t u t i o n a l investors include Intel Capital, one of the leading
technology companies in the world promoted by the UK government,
ICICI, TDA and Reeshanar. The company offers aslew of products such as
stock and derivatives broking, commodities broking and mutualfunds.
KOTAK SECURITIES LIMITED (kotakstreet.com):
Kotak Securities Ltd., a strategic joint venture between Kotak Ma
h i n d r a   B a n k   a n d G o l d m a n   S a c h s   ( h o l d i n g   2 5% -   o n e   of   t h e
w o r l d ' s   l e a d i n g   i n v e s t m e n t   b a n k s   a n d  brokerage firms) is India's
leading stock broking house with a market share of 5 - 6 %.Kotak
Securities Ltd. has been the largest in IPO distribution - It was ranked
number One in 2003-04 as Book Running Lead Managers in public equity
offerings by PRIMEDatabase. It has also won the Best Equity House A ward
from Finance Asia - April 2004.Kotak Securities Ltd is also a depository
participant with National Securities
DepositoryL i m i t e d   ( N S D L )   a n d   C e n t r a l   D e p o s i t o r y   S e r v i c e s   L i m i t e
d   ( C D S L )   p r o v i d i n g   d u a l  benefit services wherein the investors can use the
brokerage services of the company for executing the transactions and the
depository services for settling them. The
companyh a s   4 2   br a n c h e s   s e r v i c i n g   a r o u n d   1 , 0 0 , 0 0 0   c u s t o m e r s .   K o t
a k s t r e e t . c o m   t h e   o n l i n e division of Kotak Securities Limited offers Internet
Broking services and also online IPOand Mutual Fund Investments.Kotak
Securities Limited manages assets over 1700 crores under Portfolio
ManagementServices (PMS) which is mainly to the high end of the market. Kotak
Securities Limitedhas newly launched "Kotak Infinity" as a distinct
discretionary Portfolio ManagementService, which looks into the middle end
of the market.
India Bulls:
India bulls is India's leading retail financial services company with 77 locations
spreadacross 64 cities. Its size and strong balance sheet allows providing varied
products
ands e r v i c e s   a t   v e r y   a t t r a c t i v e   p r i c e s ,   o ur   o v e r   7 5 0   C l i e n t   R e l a t i o n
ship Managers are
dedicated to serving your unique needs.India bulls is lead by a highly
regarded management team that has invested crores of rupees into a world
class Infrastructure that provides real-time service
&
24/7 access toall information and products. The
India bulls Professional Network 
offers real-time prices, detailed data and news, intelligent analytics, and
electronic trading
capabilities,r i g h t   a t   y o u r   f i n g e r t i p s .   T h i s   p o w e r f u l   t e c h n o
l o g y   i s   c o m p l e m e n t e d   b y   o u r   knowledgeable and customer focused
Relationship Managers.India bulls offer a full range of financial services
and products ranging from
Equities,D e r i v a t i v e s ,   D e m a t   s e r v i c e s   a n d   I n s u r a n c e   t o   e n h a n c e   w e a
l t h   a n d   t o   a c h i e v e   t h e financial goals.
MOTILAL OSW AL SECURITIES LTD. (MOSt):
O n e of t h e t o p - 3 s t o c k - br o k i n g h o u s e s i n I n d i a , w i t h a d o m i n a n t
position in
b o t h i n s t i t u t i o n a l   a n d   r e t a i l   br o k i n g ,   M O S t   i s   a m o n g s t   t h e   b e s t -
c a p i t a l i z e d   f i r m s   i n   t h e   b r o k i n g i n d u s t r y i n t er m s of n e t w o r t h .
M O S t w a s f o u n d e d i n 1 9 8 7 a s a s m a l l s u b -  broking unit, with just
two people running the show. Focus on customer-first-attitude,ethical and
transparent business practices, respect for professionalism, research-
basedv a l u e   i n v e s t i n g   a n d   i m p l e m e n t a t i o n   of   c u t t i n g - e d g e  
t e c h n o l o g y   h a v e   e n a b l e d   i t   t o  blossom into a thousand-member team.The
institutional business unit has relationships with several leading foreign
institutionalinvestors (FIls) in the US, UK, Hong Kong and Singapore. In a
recent media reportMOSt was rated as one of the top-10 brokers in terms of
business transacted for
FIls.T h e   r et a i l   b u s i n e s s   u n i t   pr o v i d e s   e q u i t y   i n v e s t m e n t   s o l u t i o n s   t
o   m o r e   t h a n   5 0 , 0 0 0 investors through 270 outlets spanning 150 cities and 22
states. MOSt provides Advice-Based Broking, Portfolio Management Services
(PMS), E-Broking Services,
DepositoryS e r v i c e s ,   C o m m o d i t i e s   T r a di n g ,   a n d   I P O   a n d   M u t u a l   F u n
d   I n v e s t m e n t   A d v i s o r y Services. Its Value PMS Scheme gave a 160% post-
tax return for the year ended March2004.In Asia Money Brokers Poll 2003
MOSt has been rated as the Best Domestic Research H o u s e - M e g a
Funds, while in 2000 and 2002 it has been rated as the Best
D o m e s t i c Equity Research House and Second best amongst Indian Brokerage
firms respectively.
HDFC SECURITIES LTD (HDFCsec):
HDFCsec is a brand brought to you by HDFC Securities Ltd, which has
been promoted by the HDFC Bank 
&
HDFC with the objective of providing the diverse customer baseof the HDFC
Group and other investors a capability to transact in the Stock Exchanges
&
other financial market transactions. The services comprise online buying
and selling of e q u i t y s h a r e s o n t h e N a t i o n a l S t o c k E x c h a n g e ( NS E ) .
Buying and selling of
selectc o r p o r a t e   d e b t   a n d   g o v e r n m e n t   s e c u r i t i e s   o n   t h e   N S E  
w o u l d   b e   i n t r o d u c e d   i n   a subsequent phase. In a few months, they
will also start offering the following online
 
trading services on the BSE and NSE:
•
Buying and selling of shares on the BSE
•
Arbitrage between NSE
&
BSE
•
Trading in Derivatives on the NSE
•
Margin trading products.They are also planning to include buying and selling of
Mutual Funds, IPQ subscriptions,right issues, purchase of Insurance policies and
asset financing
2.6 OBJECTIVES OF THE STUDY

Study of ICICI Direct.com (online share trading)

Study of dematerialization in ICICI Capital Ltd.

Customers satisfaction and awareness of ICICI Capital Services Ltd.
ICICI Capital Services Ltd., is depository participant (DP) and it
is  pr o v i d i n g   t h e   f i n a n c i a l   s e r v i c e s   t o   t h e   s h a r e   h o l d er s   a n d   v a r i o u s 
o t h e r   D P ’ s   a l s o  providing almost same services which leads to a
competition. So in order to retain
thee x i s t i n g   c u s t o m e r s   o f   I CI C I   C a p i t a l   L t d .   a n d   t o   a t t r a c t
n e w   c u s t o m e r s   k n o w i n g   t h e customers need and preferences and
expectation is very important. The study involvesknowing the expectation
and satisfaction level of ICICI Capital Ltd. customers
2.7 PRODUCT PROFILEDE-MAT
The dematerialized form of shareholding and the depository mode of
trade (scrip lesstrade) have been in operation in developed financial markets for
over 15 years. In India,t h e f i r s t d e p o s i t o r y c o m m e n c e d o p e r a t i o n s a
decade back and is relatively new.
TheI n d i a n   F i n a n c i a l   M a r k e t s   i s   i n   n e e d   o f   b o t h   s c r i p - b a s e d  
t r a d e ,   b u t   t h e   i n v e s t i n g community, which is used to scrip-based and scrip
less trade, is bound to take some timet o a c c e p t t h e l a t t e r . T h e s c r i p l e s s
t r a d i n g , t i l l n o w a d o m a i n of t h e w e s t e r n w o r l d , institutional investors
and GDR holders is now mandatory even for small investors. Allthose who hold
physical share certificates have to get them dematerialized. If they do not,they will
be forced to do so at the time of sale. A process by which the physical
certificates of an investor are taken back by thecompany / registrar and
actually destroyed and an equivalent number of securities are credited in
the electronic holdings of the investor.Offers services to clients dealing in
Government securities through the SGL A/C. besidesholding the securities, ICICI
Capital Services Ltd.

Provides records update based on the transactions made by the clients.

Collects and credits the benefits and proceeds from sale to the clients’
account;and

Supplies periodical reports on the transactions and holding of the clients.
TRADING:
 Next function
 
activates when an investor buys or sells in the market.
Buying:
1.An investor gets order executed and makes payment to the
broker.2.Investor instructs his Depository Participant to expect credit on
settlement day.Broker instructs his DP to debit his Clearing Member account on
settlement day.3.Before settlement day Broker makes payment to
clearinghouse through ClearingBank.4.On settlement day Clearing house
releases shares to broker’s Clearing Member
accountw h i c h   i s   t h e n   t r a n s f e r r e d   t o   i n v e s t o r s   a c c o u n t   t hr o u g h   N S D
L   ( N a t i o n a l   S e c u r i t i e s Depository Limited). Investor gets credit in his
account.
SELLING:
1.An investor gets order executed.2.Investor instructs his Depository
Participant to debit his account with immediateeffect. The shares move from
investors account to Brokers Clearing Member accountvia NSDL. A Broker
clearing member accounts is credited.3.Before settlement day broker transfers
shares from his clearing member account
to Clearinghouse via NSDL. His account is debited.4.On settlement day Broker
receives payment from clearing house which he passes on to the investor.
ICICIDirect.com
ICICIDirect.com is a truly online share-trading site. This means that from
the time you punch in a buy or sell trade on your computer to the final
settlement in your
account,e v e r y t h i n g   h a p p e n s   c o m p l e t e l y   o n l i n e .   T h e   3 - i n- 1   e - i n v e s t  
a c c o u n t   i n t e gr a t e s   y o u r    brokerage, bank and one or more depository
accounts to make sure that you can do theo t h er w i s e
c u m b e r s o m e   s h a r e   t r a d i n g   f r o m   t h e   c o m f o r t   of   y o u r   h o m e   or   o f f i c
e ,   a t absolutely any time of the day…or night.
HOW CAN ONE OPEN AN ACCOUNT IN DEMAT?
First an investor has to approach a DP and fill up an account opening form. The
accounto p e n i n g f o r m m u s t b e s u p p o r t e d b y c o p i e s o f a n y o n e o f t h e
a p p r o v e d d o c u m e n t s t o s e r v e a s pr o o f o f i d e n t i t y ( P O I ) a n d p r o of
o f a d d r e s s ( P O A ) a s s p e c i f i e d b y S E BI . Besides, production of PAN
card in original at the time of opening of account has been made mandatory
effective from April 01, 2006.All applicants should carry original documents for
verification by anauthorized official of the depository participant, under his
signature.F ur t h e r , t h e i n v e s t o r h a s t o s i g n a n a g r e e m e n t w i t h D P i n
a d e p o s i t o r y pr e s c r i b e d standard format, which details rights and duties
of investor and DP. DP should providet h e i n v e s t o r w i t h a c o p y o f t h e
a g r e e m e n t a n d s c h e d u l e o f c h a r g e s f o r t h e i r f u t ur e r e f e r e n c e . T h e
DP will open the account in the system and give an account
n u m b e r , which is also called BO ID (Beneficiary Owner Identification
number).The DP may revise the charges by giving 30 days notice in
advance.S E B I   h a s   r at i o n a l i s e d   t h e   c o s t   s t r u c t ur e   f o r   d e m a t e r i a l i s a t i
o n   b y   r e m o v i n g   a c c o u n t opening charges, transaction charges for credit
of securities, and custody charges videcircular dated January 28,
2005.Further, SEBI has vide circular dated November 09, 2005 advised that
withe f f e c t f r o m J a n u a r y 0 9 , 2 0 0 6 , n o c h a r g e s s h a l l b e l e v i e d b y a
depository on DP andc o n s e q u e n t l y , b y a D P o n a B e n e f i c i a r y
O w n e r ( B O ) w h e n a B O t r a n s f e r s a l l t h e securities lying in his
account to another branch of the same DP or to another DP of thesame
depository or another depository, provided the BO Account/s at transferee DP
anda t t r a n s f e r or D P a r e o n e a n d t h e s a m e , i . e . i d e n t i c a l i n a l l
r e s p e c t s .   I n c a s e t h e B O Account at transferor DP is a joint account, the BO
Account at transferee DP should also be a joint account in the same sequence of
ownership.
Demat Services

ICICI Bank Demat Services boasts of an ever-growing customer base of

over 11.5 lacsaccount holders. In our continuous endeavor to offer best
of the class services to our customers we offer the following features:
e-Instructions
: You can transfer securities 24 hours a day, 7 days a week
t h r o u g h I n t e r n e t & I n t e r a c t i v e V o i c e R e s p o n s e ( I V R ) a t a l o w er
c o s t . N o w w i t h " S p e a k t o transfer", you can also transfer or pledge
instructions through our customer care officer.
Consolidation Demat Account
: Dematerialise your physical shares in various holding patterns and
consolidate all such scattered holdings into your primary demat account
atreduced cost.
Digitally Signed Statement
: Receive your account statement and bill by email.
Corporate Benefit Tracking
: Track your dividend, interest, bonus through your accountstatement.
Mobile Request
: Access your demat account by sending SMS to enquire about
Holdings,Transactions, Bill & ISIN details.
Mobile Alerts
: Receive SMS alerts for all debits/credits as well as for any request whichcannot
be processed.
•
Dedicated customer care executives specially trained at our call centre, to handleall
your queries.
•
C o u n t r y w i d e n e t w o r k o f o v er 2 3 5 b r a n c h e s , y o u a r e n e v e r f ar
f r o m a n I CI C I Bank Demat Services outlet.
Product and Services
A product for every need: ICICldirect.com is the most comprehensive
website, whichallows investor to invest in Shares, Mutual funds, Derivatives
(Futures and Options) andother financial products. Simply put
ICICldirect.com offer investor a product for every investment need.
Trading in shares
:1.
Cash Trading:-
This is a delivery based trading system, which is generally donewith the intention
of taking delivery of shares or monies. Cash position is meant to  b e s e t t l e d b y
delivery, the required cash or securities are blocked in full.
F o r   example, if you place an order to buy 100 shares of ICICI, you need to have
100%of the order value in your available limit/funds. And incase you
wish to sell 100ICICI shares you need to have 100% shares in your demat
balance.2.
Margin Trading
: You can also do an intra-settlement trading up to 3 to 4 timesyour
available funds, wherein you take long buy/ short sell positions in
stockswith the intention of squaring off the position within the same day
settlementc y c l e . W h e n y o u p l a c e a n o r d e r t o b u y 1 0 0 s h a r e s
o f R e l i a n c e i n t h e c a s h segment, your intention is to pay for and
receive the shares in your Demat
 
Account. However, if the same order were to be placed in the margin
segment,your intention would be to sell those shares subsequently in the
same settlement ata higher price and thereby make a profit on the same.
However, if the price fallssubsequently, there may be a loss.3.
Margin PLUS Trading:
Through Margin PLUS you can do an intra-settlement trading up to 25 times
your available funds, wherein you take long buy/ short sell positions in stocks with
the intention of squaring off the position within the samed a y s e t t l e m e n t c y c l e .
M a r g i n P L U S w i l l gi v e a m u c h h i g h e r l e v er a g e i n y o ur   account
against your limits .
•
Margin PLUS offers an order placement feature through which you c a n
take a intra-day position in the equity segment and at the
s a m e time, place a cover order for this position specifying the Stop
LossT r i g g e r P r i c e a n d t h e l i m i t p r i c e . T h i s c o v e r or d e r w i l l h e l p
y o u t o limit the loss, if any, on the position .
•
Margin Plus is available for intra day
t r a d i n g   i n   m o r e   t h a n   6 0   s t o c k s   o n ICICldirect.com
•
Helps to limit your loss through a Stop Loss Order 
•
O p e n M a r g i n P l u s p o s i t i o n s c a n b e c l o s e d a n y t i m e b e f or e t h e
E n d of   Settlement timings as specified by ICICldirect.com
•
Auto Square off process to help you close your open positions at
the Endof the Day.
How to place a Margin Plus order?
•
Allocate the funds for trading in Equity segment.
•
Select the link "Margin Plus order" on the trading page.
•
Select the Buy/Sell option and the Stock for trading. (orders can be  placed
only during market hours)
•
The first Buy/Sell order can only be a market order.
•
At the time of placing this order, also select a cover Stop loss
t r i g g er   order.E.g. You Buy 100 shares of INFTEC at 3400, anticipating
that the price would rise. Atthe same time, you will be required to place a cover
stop loss order. Say you decide your stop loss price at 3330. You will then be
required to state the limit price at say 5% lower level i.e. Sell 1 00 INFTEC at 3230
limit price and 3330 Stop Loss Trigger Price.Hence if your view goes wrong
and the price of INFTEC moves down, your Stop Loss order will be
triggered at 3330 and will get executed at the best available price between3330 and
3230
 
If your position is favorable, and INFTEC moves up to 3500, you can
modify the StopLoss order to a market order and close your position.4.
Spot Trading
: -This facility can be used only for selling your demat stocks which arealready
existing in your demat account. When you are looking at an immediate
liquidityoption, 'Cash on Spot' may work the best for you, On selling
shares through "cash ons p o t " , m o n e y i s c r e d i t e d t o y o u r b a n k a / c t h e
same evening
&
n o t o n t h e e x c h a n g e  payout date. This money can then be withdrawn from any
of the ICICI Bank ATMs.
•
Currently offer S&P CNX NIFTY and CNX NIFTY JUNIOR scripts are
availablein 'Cash on Spot'. The maximum limit of 'Cash on Spot' trades that you
can enter into on a daily basis is Rs 10, 00000.5.
BTST (BUY TODAY SELL TOMORROW):
-Buy Today Sell Tomorrow (BTST) isa facility that allows you to sell shares
even on 1
5t
and 2
nd
day after the buy order date,without you having to wait for the receipt of shares
into your demat account.
BTST is relevant for Investor when: -
1.If you have you ever missed making a huge profit because you had
bought theshares just one day back and you could not sell them as they were not
creditedto your demat account?2.If you have ever found that squaring off
your cash based transactions within aday is not profitable, as one days
time does not allow realizing maximum profit?3.If you have ever thought
of an intermediate option between cash and Margintrades where in you
could make profits on volatile shares within one or 2 daysof your buying them
without a compulsory square off?4.If you have ever faced any of the above
situations, BTST® is for you.
6. CallNTrade®:
Call Trade® allows you to call on a local number in your city & tradeon the
telephone through our Customer Service Executives. This facility is
currentlyavailable in over 11 major states across India.
7. Trading on
 
NSE/BSE:
Through ICICI direct. com, you can trade on NSE as well asBSE.
8. Market Order
: You could trade by placing market orders during market hours that
allows you to trade at the best obtainable price in the market at the time
of execution of the order.
9. Limit Order
: A l l o w s y o u t o p l a c e a b u y / s e l l or d e r a t a p r i c e d e f i n e d b y y o u .
T h e execution can happen at a price more favorable than the price, which
is defined by you,limit orders can be placed by you during holidays & non-
market hours too.
TRADE IN DERIVATIVES:FUTURES
1.Through ICICI direct.com, you can now trade in index and stock
futures on the  N S E .   I n   f u t ur e s   t r a d i n g ,   y o u
t a k e   b u y / s e l l   p o s i t i o n s   i n   i n d e x   o r   s t o c k ( s ) contracts having a longer
contract period of up to 3 months.2 .T r a d i n g   i n F UT U R E S i s s i m p l e ! I f ,
d u r i n g t h e c o u r s e o f t h e c o n t r a c t l i f e , t h e  price moves in your favor
(i.e. rises in case you have a buy position or falls in case you have a
sell position), you make a
profit.3 . P r e s e n t l y   o n l y   s e l e c t e d   s t o c k s ,   w h i c h   m e e t   t h e   c r i t e r i
a   o n   l i q u i d i t y   a n d volume, have been enabled for futures trading.
OPTIONS
1 . A n o p t i o n i s a c o n t r a c t , w h i c h g i v e s t h e b u y er t h e r i g h t t o b u y
o r s e l l s h a r e s a t a specific price, on or before a specific date. For this,
the buyer has to pay to theseller some money, which is called premium. There
is no obligation on the buyer to complete the transaction if the price is not
favorable to him.2.To take the buy/sell position on index/stock options, you
have to place certain
%
of order value as margin. With options trading, you can leverage on your
tradinglimit by taking buy/sell positions much more than what you could
have taken incash segment.3 . T h e B u y e r o f a
Call Option
has the Right but not the Obligation to Purchase theUnderlying Asset at the
specified strike price by paying a premium whereas the S e l l e r of   t h e
C a l l   h a s t h e   o b l i g a t i o n   of   s e l l i n g   t h e
U n d e r l y i n g   A s s e t   a t   t h e specified Strike price.4 . T h e B u y e r o f
a
Put Option
h a s t h e R i g h t b u t n o t t h e O b l i g a t i o n t o S e l l t h e Underlying Asset at
the specified strike price by paying a premium whereas
theS e l l e r   o f   t h e   P u t
h a s   t h e   o b l i g a t i o n   o f   B u y i n g   t h e   U n d e r l y i n g   A s s e t   a t   t h e spec
ified Strike price.By paying lesser amount of premium, you can create positions
under OPTIONS and takeadvantage of more trading opportunities
Investing in Mutual funds:
ICICldirect.com brings you the same convenience while investing in Mutual funds
also -Hassle free and Paperless Investing.W i t h t h e i n c l u s i o n of F i d e l i t y
M F , y o u c a n n o w i n v e s t o n- l i n e i n 1 9 m u t u a l
F u n d s t h r o u g h   I C I C I   d i r e c t . c o m .   Pr u d e n t i a l   I C I C I   M F ,   J M   M F ,   A l l
i a n c e   M F ,   F r a n k l i n Templeton MF, Sundaram MF, Birla Sun Life MF,
HDFC MF, Principal MF, UTI MF,R e l i a n c e M F , K o t a k M F , T a t a M F ,
D S P M e r r i l l L y n c h M F , I N G M F , C H O L A M F , Deutsche MF, HSBC
MF and Standard Chartered MF are the Mutual Funds available
for investment.You can invest in mutual funds without the hassles of
filling application forms or anyother paperwork. You need no signatures or
proof of identity for investing.Once you place a request for investing in a particular
fund, there are no manual processesinvolved. Your bank funds are
automatically debited or credited while simultaneously crediting or debiting
your unit holdings.You also get control over your investments with online
order confirmations and
order s t a t u s   t r a c k i n g .   G e t   t o   k n o w   t h e   p e r f o r m a n c e   o f   y o ur   i n v e s t
m e n t s   t hr o u g h   o n l i n e updation of MF portfolio with current NA V.
ICICldirect.com offers you various options while investing in Mutual Funds:Purchase:
Y o u   m a y   i n v e s t / p u r c h a s e   P r u d e n t i a l   I CI C I   M F ,   J M   M F ,   A l l i a n c e  
M F , Franklin Templeton MF, Sundaram MF, Birla Sun Life MF, HDFC MF,
Principal MF,UTI MF, Standard Chartered MF, Reliance MF, Kotak MF,
Tata MF, DSP Merrilllynch MF, ING MF, CHOLA MF, Deutsche MF,
HSBC MF and Fidelity MF withoutthe hassles of filling application forms.
Redemption:
In addition to giving hassle-free paperless redemption,
ICICldirect.como f f e r s   f a s t e r   l i q u i d i t y .   Y o u   c a n   r e d e e m   t h e   m u t u
a l   f u n d   u n i t s   t h r o u g h   I C I C I direct.com. The money will be credited
to your bank account automatically 3 daysafter the order placement date.
Switch:
To suit your changing needs you may wish to shift monies b
e t w e e n different schemes. You can switch your monies online from one scheme
to another in the same fund family without any hassles.
Systematic Investment plans (SIP):
SIP allows you to invest a certain sum of  money over a period of
t i m e p e r i o d i c a l l y . J u s t f i l l i n t h e i n v e s t m e n t a m o u n t , t h e  period of
investment and the frequency of investing and submit. ICICIdirect.com willdo the
rest for you automatically investing periodically for you.
Systematic withdrawal plan
: This allows you to withdraw a certain sum of money over a period of time
periodically.
Transfer-in:
You can convert your existing Mutual funds into electronic mode througha
transfer-in request.
IPOs and Bonds Online:
You could also invest in Initial Public Offers (IPOs) and Bonds online
without goingthrough the hassles of filling ANY application form!
paperwork.Get in-depth analyses of new IPOs issues (Initial Public Offerings),
which are about to hitthe market and analysis on these. IPO calendar, recent
IPO listings, prospectus/offer documents, and IPO analysis are few of the
features, which help you, keep on top of theIPO markets.Schemes offered for
opening Demate accountICICI direct.com allows 3 in I account scheme for
opening Demate account. In which3 types of account will be opened.1 . D e m a t e
a c c o u n t 2 . T r a d i n g   a c c o u n t 3.Savings
a c c o u n t   i n   I CI C I   b a n k   In Surat Demate account will be opened in
Athwelines branch and savings accountw e c a n o p e n i n f ol l o w i n g a n y I
b r a n c h a n d s a v i n g s a c c o u n t w i l l b e o p e n e d a t 0  balance.
•
ICICI bank-Athwelines branch, Surat
•
ICICI bank-Ring road branch, Surat
•
ICICI bank-Adajan branch, Surat
•
ICICI bank-varacha branch, Surat
The following scheme will be offered for opening Demate account

Table reqired

 
List A: - Pan card (compulsory)List B: - bank pass book (nationalized bank
only permitted),bank letter in case of icici bank account holder 
 ,
 pass port, electricity bill, telephone bill.List C: - voter id / driving liceneceList D: -
mobile bill/ LIC premium receiptsIf customer not able to present any kind of
documents from list B then he/she has to present list C + list D (both of
combination)Following documents attached with Demate account form:
-1 . A n n e x u r e f o r m 2 . D e c l a r a t i o n f o r m 3 . S c h e m e
f o r m 4 . P a n   c a r d 5.Resident proof from list B or list C +
list D6 . C h e q u e s   o f   1 R s o r 7 5 0   R s
 
List A: - Pan card (compulsory)List B: - bank pass book (nationalized bank
only permitted),bank letter in case of icici bank account holder 
 ,
 pass port, electricity bill, telephone bill.List C: - voter id / driving liceneceList D: -
mobile bill/ LIC premium receiptsIf customer not able to present any kind of
documents from list B then he/she has to present list C + list D (both of
combination)Following documents attached with Demate account form:
-1 . A n n e x u r e f o r m 2 . D e c l a r a t i o n f o r m 3 . S c h e m e
f o r m 4 . P a n   c a r d 5.Resident proof from list B or list C +
list D6 . C h e q u e s   o f   1 R s o r 7 5 0   R s
The ICICldirect Advantages: -
A Unique 3-in-1 account that gives you:
1.
Convenience:
t h e 3 - i n- l a c c o u n t s i n t e g r a t e y o u r b a n k i n g , br o k i n g a n d
d e m a t accounts. This enables you to trade in shares without going through the
hassles of tracking settlement cycles, writing cheques and Transfer
Instructions, chasingyour broker for cheques or Transfer Instructions etc.2.
Speed:
You can now get the latest quotes of scripts on ICICIdirect.com and placean order
almost instantly.3.
Control:
You can be assured that you have in fact placed an order at the price y o u
always wanted to, but may not have been able to do so till now.
T h e r e b y giving you control over your own trades.4.
Independence:
I n s t e a d   of   t r a n s f e r r i n g   m o n i e s   t o   a   br o k e r ' s   p o o l
o r   t o w a r d s deposits, you can manage your own demat and bank accounts
when you tradethrough ICICIdirect.com.
Brokerage structure of ICICIdirect.com
The account opening charges for Idirect account is Rs.
750.I C I C I d i r e c t . c o m   pr o v i d e s   s a v i n g s   a c c o u n t ,   t r a d i n g   a c c o u n t ,   d e
m a t   a c c o u n t .   I n which savings account has zero balance facility. And company
also provides Debitcard for annual charges of Rs. 99 per
card.F o l l o w i n g   a r e   t h e   b r o k e r a g e   s t r u c t u r e   f o r   d i f f e r e n t  produc
ts.
1. Cash transaction and BTST: 
Total eligible Brokerage (% of Brokerage (for Effectiveturnover transaction value) 
squared off order) (for squared off order)Above 5 crores 0.25% Nil 0.125%2 crores 
to 5 crores 0.30% Nil 0.15%1 crores to 2 crores 0.35% Nil 0.175%50 lakhs to 1 cr
ores 0.45% Nil 0.225%25 lakhs to 50 lakhs 0.55% Nil 0.275%10 lakhs to 25 lakhs 
0.70% Nil 0.35%Less than 10 lakhs 0.75 Nil 0.375%
SLIBM-AHM
25
 
Profile of the Organisation3.1 DEPARTMENT/FUNCTIONAL AREAS
Infrastructure financing, corporate financing and retail have been the
strong pillars of ICICI's growth. They expect these to remain thrust areas in the
future too. The
financiali n s t i t u t i o n   s e e s   s i g n i f i c a n t   o p p or t u n i t i e s   i n   t h e   p o w e r   s e c t
o r ,   a n d   i n   t h e   r a pi d   d e - r e g u l a t i o n   of   t h e   T e l e c o m   s e c t o r .   O n   t h e  
r e t a i l s i d e ,   I CI C I   h a s   e s t a b l i s h e d   a   r e t a i l franchisee through a
physical presence across 42 cities. Its retail thrust has been on the  planks
of technology enabled low cost distribution channels like the Internet, Call
centersand ATMs.It occupies the number one position in automobile
financing (over 20% of the marketshare), number one in credit cards on an
incremental basis. It also has a growing presencein home finance and on-line
trading.
ICICI BANK 
ICICI Bank is a commercial banking outfit set up by the ICICI Group.
The Bank wasregistered a banking company on January 5
th
, 1994 and received its banking license fromthe Reserve Bank of India on May 17
th
, 1994. The Bank has an authorized capital of INR 300crore (USD 75.96 million),
of which subscribed and paid-up capital is INR 165 crore(USD 41.78 million).
The first ICICI Bank branch was started in Madras in June 1994. The
branches are fully computerized with state-of-the-art technology and systems. All
of them are fully networked through V-SAT (Satellite) technology. The Bank is
connectedt o   t h e
i n t e r n a t i o n a l   S WI F T   n e t w o r k   s i n c e   M a r c h   1 9 9 5 .   I C I C I   B a n k   o f f e r
s a   w i d e spectrum of domestic and international banking services to
facilitate trade, investment,cross-border business, and treasury and foreign
exchange services. This is in addition to awhole range of deposit services offered
to individuals and corporate bodies. ICICI Bank’s
 Infinity
 
was the first Internet banking service in the country, and a prelude to banking inthe
next millennium. Currently the Bank has around 150,000 customers.
ICICI VENTURE FUNDS MANAGEMENT COMPANY LIMITED
W i t h t h e r e c e n t s p u r t i n e n t r e p r e n e u r s h i p i n t h e c o u n t r y , v e n t ur e
c a p i t a l a n d pr i v a t e equity capital financing are fast attaining a role of
prominence. Uniquely positioned totake the Indian entrepreneur further is
ICICI Venture Funds, the wholly owned subsidiaryof ICICI, with its keen
understanding of the Indian Financial Markets, entrepreneurial ethos,
access to global capital and a network through influential global alliances.
Strong  p a r e n t a g e   a n d   a f f i l i a t e s   pr o v i d e   I C I C I   V e n t u r e   w i t h   a c c e s s   t
o   a   b r o a d   s p e c t r u m   of   f i n a n c i a l a n d a n a l y t i c a l r e s o u r c e s . A n
a f f i l i a t i o n w i t h ( T r u s t C o m p a n y of t h e W e s t )  provides a platform for
networking Indian Companies to global markets and technology.ICICI Venture
Funds currently manages / advises 11 Funds aggregating US$ 400 million,
making it the most significant private equity investor in the country. The
investmentexperience of ICICI Venture’s professionals is the foundation its
strengths and success
ins e v e r a l   a r e a s   o f   i n v e s t i n g .   I C I C I   V e n t u r e   s e e k s   t o   i n v e s t   i n   o p p
o r t u n i t i e s   w h e r e   i t s n e t w o r k t h r o u g h I CI C I a n d T C W c a n c r e a t e
v a l u e f o r a l l i n v o l v e d . I CI C I V e n t u r e ’ s  primary investment objective is
capital investment through investments by way of equityor equity-related securities
in unlisted companies with significant growth potential. ICICIVenture’s
investments span a broad spectrum of industries and stages of
development,the investment focus being on
•
Information Technology
•
Biotechnology and Life Sciences
•
Media and entertainment
•
Retail Services
ICICI SECURITIES AND FINANCE COMPANY LIMITED
Formed in 1993 when ICICI’s Merchant Banking Division was
s p u n of f i n t o a n e w c o m p a n y ,   I -
SEC today are India’s leading Investment Bank and one of t
h e   m o s t significant players in the Indian capital markets. Its client list
includes some of the bestknown, most respected names in Indian business
and industry, and I-SEC offers themwhat are probably the widest, most
in-depth range of services in the market, with the highest standards of
professionalism. Backed by a strong distribution network, I-SEC isacknowledged
to be at the forefront of all new developments in the Indian debt market. I-SEC
Research Reports, Compendia, Updates, I-BEX and sovereign Bond
Index, have become industry standards, sought after by finance, business
and reputed publicationsalike. The Project Finance Group has helped take
strategic projects from the drawing board to financial closure, leveraging the
expertise of parent organization. I-SEC has alsoexecuted several assignments
in M & A, including business valuations, spin-offs and mergers, for both
domestic and overseas clients. The range of products offered by i-SECincludes:
•
Corporate Finance – Mergers and Acquisitions, Equity, Bidding
(especially for Telecom Projects)
•
Fixed Income – Primary Dealership, Debt Research
•
Equities – Lend management, Underwriting, Syndication, Pr
i v a t e   E q u i t y  placement, Sales, Trading, Broking, Sectoral and Company
Research I - SECContinues to sustain a steady rate of growth by offering the most
extensive range of services combined with unrivalled standards of professionalism.
ICICI BROKERAGE SERVICES LIMITED
S e t u p i n M a r c h 1 9 9 5 , I CI C I B r o k e r a g e S e r v i c e s i s a 1 0 0 %
s u b s i d i a r y of I - S E C . I t commenced its securities brokerage activities in
February 1996 and is registered with the National Stock Exchange of India
Limited and The Stock Exchange, Mumbai. We are a joint venture
between ICICI and the leading financial services provider in India,
and prudential plc of U.K., one of the finest Life insurance companies in the
world. Together we provide you with an extensive range of insurance products to
suit your various needsat various life stages. We aim to keep you covered, at every
step in life. Their policies areneed-specific and address particular age groups. This
means that no matter where in
lifey o u   a r e ,   w e   o f f e r   s p e c i f i c   pr o d u c t s   t o   s u i t   y o u r   n e e d s   f o r
s a v i n g s ,   p r o t e c t i o n   a n d retirement. Our products can be categorized into the
following:
•
Saving plans
•
Protection plans
•
Retirement plans
ICICI PERSONAL FINANCIAL SERVICES LIMITED
ICICI Personal Financial Services Limited (ICICI PFS), formerly ICICI-Credit,
was oneof the first four companies to obtain registration as a Non-
Banking Financial Company(NBFC) from the Reserve Bank of India
(RBI) on September 10, 1997 under the newsection 45IA of the Reserve
Bank of India Act, 1934. During the year 1998-99, there
wasa   s i g n i f i c a n t   s h i f t   i n   t h e   C o m p a n y ’ s   o p e r a t i o n   f r o m   l e a s i
n g   t o   h i r e   p u r c h a s e   t o distribution and servicing of all rental
products for the ICICI Group. It is now a focal point for marketing and
distribution of all rental asset products for ICICI, including autoloans, consumer
durable finance and other financial products. The Company has
thus  b e c o m e   p a r t   of   I C I C I ’ s   r et a i l   s t r a t e g y   a i m e d   a t   of f e r i n g   a   c o
m p r e h e n s i v e r a n g e   of    products and services to retail customers. In view of
this reorientation of the business, thename of the Company was changed from
ICICI Credit Corporation to ICICI PersonalFinancial Services Limited (ICICI
PFS) effective March 22, 1999.
ICICI CAPITAL SERVICES LIMITED
ICICI Capital Services Ltd. was incorporated in the name of SCICI
Securities Ltd. onS e p t e m b e r 2 4 , 1 9 9 4 a s a w h o l l y o w n e d s u b s i d i a r y
o f e r s t w h i l e S C I C I L t d . w i t h t h e objective of providing stock broking
services to the institutional clients and undertakingactivities such as
underwriting, primary market placements & distribution industry
&company research etc. After the amalgamation of SCICI with ICICI effective
from April1, 1996, resulting in the change of the name. The company is mandated,
under review byICICI, to carry out on its behalf the retail resource raising activities
and to provide
fronto f f i c e   s e r v i c e s   r el a t e d   t o   a l l   r et a i l   a n d   s e m i   r et a i l   l i a b i l i t y   pr
o d u c t s   of   I C I C I . T h e company also operates the network of ICICI
Centers being set up by ICICI. As on datethe company has set up 91 centers
across the country.
ICICI INFOTECH
ICICI InfoTech is a leading provider of end-to-end IT solutions. We have
an in-
depthe x p e r i e n c e   o f   h a v i n g   w o r k e d   o n   v a r i e d   t e c h n o l o g i e s   w i
t h   l e a d i n g   c o r p o r a t i o n s worldwide. Our service portfolio includes the
following:

IS & IT Consulting
 

Software Design and Development

Enterprise Application Integration

Value Chain Management Solutions (SCM, CRM etc.)

Application Re-engineering and Management

Knowledge Management Solutions

Embedded System Applications

Technology Incubation, IT-enabled Services & IT Outsourcing
ICICI Capital Ltd.
Its products are

RBI Bonds

E-invest (ICICI Direct.com)

Fixed Deposits

Mutual Funds

Bonds

Demat

Equity IPO
ICICI DIRECT.COM (ONLINE SHARE TRADING): 
ICICI Direct.com is a truly online share-trading site. Which means that
from the timeyou punch in a buy or sell trade on your computer to the final
settlement in your
account,e v e r y t h i n g   h a p p e n s   c o m p l e t e l y   o n l i n e ?   T h e   3 - i n- 1   e - i n v e s t  
a c c o u n t   i n t e gr a t e s   y o u r    brokerage, bank and one or more depository
accounts to make sure that you can do theo t h er w i s e
c u m b e r s o m e   s h a r e   t r a d i n g   f r o m   t h e   c o m f o r t   of   y o u r   h o m e   or   o f f i c
e ,   a t absolutely any time of the day or night
3.2 PERFORMANCE AND OPERATIONS
The Sales turnover of the Company during the year was Rs.2,602 million.There is
a decrease of 4% from the previous year. Decline in the sale of Carburettors
for two wheelers and four wheelers had contributed to the overall sales downturn
though theCompany has improved the sale of MPFI parts to passenger cars.The
profit after tax of the Company for the year under review is
Rs.377m i l l i o n   D u e   t o   i n c l u s i o n   o f   a n   e x t r a o r d i n a r y   p r o f i t   o f  
R s . 2 5 0   m i l l i o n   o n   s a l e   o f   investments, the Profit after Tax has registered
an increase of 42% compared to previousyear. The profit from the manufacturing
activities of the Company is lower mainly due toa. price reduction offered to
customers b. increase in the input and raw materials costc. a particular customer in
the two wheeler market witnessed a steep decline in the sale of a model for which
UFSL is supplying the CarburettorsKey Ratios 2005-06 2004-05 Net Profit Ratio
(PAT/Sales) 14.49 9.49 Net Profit Ratio (PAT/Net worth) 22.21 18.13Current
Ratio (Current Assets/Current Liabilities) 1.67:1 2.55:1 Debt - Equity
Ratio0 . 4 7 : 1   0 . 0 4 : 1   D e b t o r s   T u r n o v e r   ( D e b t o r s / G r o s s   S a l e s )   1 . 1 8  
M o n t h s   1 . 2 5   M o n t h s Creditors Turnover (Creditors/Purchases)1.86 Mon
ths 1.59 Months Dividend Pay-outRatio 17 15.37.
3.3 SWOT ANALYSIS OF THE COMPANY:
 
Strengths
1. Management philosophy and commitment to maximize shareholders
returns2. Upgraded product design and development facilities
to develop new products and aiddiversification3 . O n g o i n g a c t i v i t i e s t o
s u p p o r t u p g r a d a t i o n o f o p er a t i o n a l p e r f or m a n c e a n d r i s e
i n  productivity4 .   T e a m   of   t a l e n t e d   a n d   c o m m i t t e d   pr o f e s s i o n a l s   a v a i l
a b l e   t o   i m pr o v e   c o m p a n i e s  performance Weakness1. Competition from
cheap imports
2. Low customer base
Opportunities
1. UFSL has initiated development of products for diesel application.
This will providetremendous scope for diversification and growth2. Acquisition
of AMTEC to provide opportunities to access global OEMs3. Opportunity to
support AMTECs operations by supplying products from India4. The
introduction of new emission norms will provide UFSL opportunity to
developinjection systems and thereby upgrade the status of the company from
product to systemsupplier.
Threats, Risks & Concerns
1. Constant pressure to be cost competitive to meet customer expectations2.
Relentless pressure to maintain profitability due to rising input/raw material
prices3. Increasing popularity of alternative fuel vehicles, such as Hybrid,
Hydrogen powered,CNG and LPG vehicles poses new challenges for the company.
3.4 FUTURE PROSPECTS AND PLANS OF THE ORGANIZATION
For
ICICI the past half has been a trying period more so becaus
e   o f   t h e   a d v e r s e environmental conditions such as the depressed equity
markets and the volatile
currencym a r k e t s .   H o w e v e r ,   i t s   r e t a i l   t h r u s t   a n d   a   p e r c e p t
i b l e   s h i f t   i n   f i n a n c i n g   f r o m manufacturing projects to corporate
finance will put it in good stead for the quarters tocome. Its growing
importance in the telecom and infrastructural sectors, which have huge potential,
will be a key driver of growth for the future
BOARD OF DIRECTORS OF ICICI SECURITIES LIMITEDICICI SECURITIES
PRIMARY DEALERSHIP LIMITED

Mr.S.Mukherji,chairman

 Nitin Jain,Managining irectore & CEO

Ms.Vishakha Mulye

Mr.A.Murugappam

Mr.Subir Saha

Mr.Uday Chitale
ICICI SECURITIES LIMITED

Mr.K.V. Kmath, Chairman

Mr.S. Mukherji, Managinig Directore & CEO

Ms. Kalpana Morparia

Mr.V. Vaidyanathan

Mr.Nitin Jain

Mr.Paresh Shah

Mr.Uday Chitale
ICICI Securities Holdings,Inc.

Mr.Gopakumar P.

Mr.Nitin Jain

Mr.Subir Saha

Mr.A.MurugappanICICI Securities INC.

Mr.Gopakumar P.,Presiddent

Mr.Nitin Jain

Mr.Subir Saha

Mr.A.Murugappan

Mr.Anup Bagchi
 

Mr.Subir Saha

Mr.A.Murugappan

Mr.Anup Bagchi
What is all about ICICI securities limited?General
InformationName :ICICI SECURITIES LIMITEDHEAD OFFICE :ICICI SECURI
TIES LTD.2
nd
FLOOR,STANROSE HOUSEAPPASAHEB MARATHE MARGPRABHADEVI
MUMBAI-400025TYPE OF BUSINESS :LIMITED COMPANYPHONE NO :+91 
22 6651 1200F A X   N O   : + 9 1   2 2  
6 6 5 1   1 4 5 1  WEB SITE :www.icicisecurities.com www.i
cicidirect.com BRAND NAME FOR ONLINE TRADING:
 
CHIEF EXECUTIVE OFFICER : ANIL KAUL
B R A N C H   I N   W H I C H   T R AI N I N G   P E R S U D E D :   B A B U B H A I   C H A
M B E R S - 1- 2 - 3 ATHWAGATE,OPP.
lOLLY 
PLAZAB / H   A S I A N   S K Y   S H O P SURATHEAD OF THE BRAN
CH :SUBHENDU DAS (AREA MANAGER)Integrated Equity Solutions
Provider 

Among the top branded retail service providers

Multi – channel access to clients

Tailor made research and products

Depository Services

Derivatives

Innovative product for enhanced performance

Best research team in the world
About ICICI SECURITIES LIMITED
•
ICICI securities ltd named its online division as ICICI direct.com and it is into
retailBroking
•
The business of the company overhauled 6 years ago in 2002.
•
It acts as a discount brokerage house to a full service investment solutions
provider 
•
It has specialized research product for the small investors and day traders
•
Largest chain of Total centers office 356, Region office 23, Total hub
office 46, 150education workshop, and offices in 860 cities all across India.
•
Leading player today with• The site was also launched in 2002 and named it as 
www.icicidirect.com
 
•
It offers its customers with the trade execution facilities on the NSE and
BSE, for cash as well as derivatives, cash, margin trading, margin plus, BTST
(buy today selltomorrow), cash on spot, IPOs, mutual funds, Gal bonds, postal
services, insurance of icici group (icici prudential life insurance and icici Lombard
general insurance).
•
ICICldirect.com is a India's first largest B2C Ecommerce site
 First to launch: -1. Digitally signed contract notes in India.2. Online IPOs in India
•
Leader in online trading in India (largest number of clients, transactions, products.
•
Safest transaction capabilities varisign (secured stock layer with 128-bit
enruption.• Seamless trading environment (completely online integrated offering
AWARDS AND ACHIEVEMENTS
1.ICICI direct.com is awarded the " Most Preferred Brand
in Financial AdvisoryServices" in the CNBC awaaz consume
r   A w a r d   2 0 0 7 .   T h e   N i e l s e n   C o m p a n y conducts this survey -worlds
foremost market research firm conducted study coveringmore than 10000
consumers across 42 segments in 21 cities and 13 small towns in 14states across
India.2 . I B A   ( I N D I A N   B A N K   A S S O C I A T I O N )   b u s i n e s s   t e c h n o
l o g y   a w a r d s   2 0 0 6   f o r   improved customer experience and to gain
competitive advantage are recognized for awards.3 .I B A
( I N DI A N   B A N K   A S S O C I AT I O N ) b u s i n e s s t e c h n o l o g y
a w a r d s   2 0 0 7   f o r b e s t online trading platform provide4. Fast web genius of the
web awards 2007 for online trading.5. Out Look Money NDTV Profit award 2007
for Best ebrokerage.6.TXAI- highest broker ranking by CRISIL- ability to
ICICI direct to servIces capitalmarket broking transactions is highest.

7.Awarded Asia's first web seal by KPMG a seal  of assurance awarded to
companies inthe Internet world with control conscious business operations.8.
ICICI direct has the largest number of customers- SEBI9.ICICI direct's
transparency, ease of trading and technology initiat ives has made in
theleader in Indian online trading market- capital market.1 0 . "   T h e L ar g e s t
Online broker by customer trades and market share
–   B U S I N E S S INDIA
SEVEN P'S OF ICICI securities limited
./
PRODUCTProduct Variety
ICICI securities limited offer 3 in 1 online trading accounts for its
customers speciallydesigned according to their volume in share trading. Those 3
varieties are:
•
Trading account
•
Demate account• Savings account
Quality
User Friendly, attractive
&
colorful Website
Design
The website of ICICI securities limited namely www.icicidirect.com has been
speciallydesigned to facilitate its users to buy and sell shares in an instant
at anytime and fromanywhere they like. The site is user friendly allowing
even a layman to easily operatewithout any hassles.
Brand Name
The company as a whole in its offline business has named itself
a s I C I C I s e c u r i t i e s limited. The company has preferred to name themselves
under a ICICI group companyBut in its online division started since 2000,
the company preferred to name itself
as" I C I C I D l RE C T . C O M " .   T h e   B r a n d   N a m e   " I C I C I D l RE C T . C O M "   i
t s e l f   s u g g e s t s   t h e  business in which the company is dealing so that the
consumer could easily identify the product or service category.
Services
ICICI securities limited offers its customers, depository services and
trade
executionf a c i l i t i e s   f or   e q u i t i e s ,   d e r i v a t i v e s   a n d   c o m m o d i t i e s   b a c k e
d   w i t h   i n v e s t m e n t   a d v i c e t e m p e r e d b y d e c a d e s o f br o k i n g
e x p e r i e n c e . T h e t e a m s o f i t s d e d i c a t e d a n a l y s t s ar e constantly at work
to track performance and trends.../
PRICE
+:+
List Price
Online opening charges: - 750 Rs.Annual maintenance charges: - 500 Rs. Per
annum ../
PROMOTION
Online share trading is totally a new concept in Indian Market. Generally investor
doesn'tlike to come out from conventional way of share trading. ICICI
securities limited haveintroduced this product in India. The concept and
Product are still new in the
market.T h e r e f o r e   t h e   c o m p a n y   h a s   u n d e r t a k e n   e x t e n s i v e   p r o
m o t i o n   c a m p a i g n   t o   c r e a t e a w a r e n e s s   a b o u t   t h e   pr o d u c t .   I C I C I   s
e c u r i t i e s   l i m i t e d   a d o p t   t h e   f o l l o w i n g   t o o l s   f o r    promoting the product.
+:+
Advertising
Company advertises its product through TV media on channels like CNBC, Print
Media-
 
in leading dailies and outdoors media. It advertises itself as an innovative
Brand for online trading. Besides attractive and colorful brochures as
well as posters are usedgiving full details about the product. Mails are
sent to people logging on to sites likemoneycontro1.com and
rediff.com.Also; stalls are opened up now and then at places where
prospective customers can be approached.
+:+
Sales Promotion
T h e   C o m p a n y   o f f e r s   a c c o u n t   o p e n i n g   c h a r g e   R s . 1   i n s t e a d   of   R s . 7
5 0   f or c o r p o r a t e accounts (more than 20 accounts) for companies like Essar,
Reliance, and Kribhco, ongcetc.
+:+
Sales Force
The Company has an aggressive sales force, which is given incentives,
based on their sales. The sales force is given intensive training continuously to
their agents every week on Tuesday.
+:+
Seminar
The Company also arranges seminar in corporate world for creating awareness
about the product. Recently, it had organized for a seminar in Ongc, Reliance,
Kribhco, Pantaloon,Bigbazar, and GEB etc.
.:. Direct Marketing
Company emphasizes more on direct marketing, as many people are still
not aware
of t h i s   n e w   w a y   o f   s m a r t   t r a d i n g .   F o r   t h i s ,   t h e   c o m p a n y   r e c r
u i t s   a n d   t r a i n s   s a l e s representatives so as to explain the product and
solve customer queries related to the product. This is the most
effective way to communicate the three-in-one concept whichcompany
offers .
• :. Telemarketing
This is another promotional tool company is using to boost up its sales.
For this, thecompany collects the database of the people belonging to different
professional segments../
PLACE.:. Channels
ICICI securities limited uses various channel alternatives to reach to its
customersthrough~ Internet
T ele Marketing~ R e t a i l S h a r e S h o p s ~ Franchisee Owners~ Power Brokers~
Sales Force
.:. Coverage
Access to the website from any part of the globe .
• :. Locations
ICICI securities limited have the largest chain of retail share shops in India. It has
centersoffice 356, Region office 23, Total hub office 46, 150 education workshop,
and offices in8 6 0 c i t i e s l o c a t e d i n a l l o v e r I n d i a l i k e Pu n e , T h a n e ,
C h e n n a i , K o l k a t t a , B a n g a l o r e , Luckhnow, Darjleeng, Kanpur, Baroda,
Midnapore, Surat, Delhi, Gaziabad, Hydrabad,Allahbad, etc./
PEOPLE.:. Employees
~ Selection: Employees are selected on the basis of their experience
andqualification as applicable to the job.~ Training: Intensive training is
provided to the employees till a week once they join and even at times
required after that.~ Motivation: The employees are motivated through incentives
they are provided .
• :. Research Team
ICICI securities limited has a team of dedicated analysts who have years
of workinge x p e r i e n c e i n t h e i n d u s t r i e s t h a t t h e y t r a c k , a n d a
p r o v e n t r a c k r e c or d i n u s i n g t h e i r   knowledge of the investment science to
deliver results .
• :. Customers
The heart ofICICI securities limited is really treated loyally like the kings. The
customer care, which comprises of highly trained executives operating from 9:30
to 8:00 p.m
./
PHYSICAL EVIDENCE.:. Locality of the office:
In Surat, three franchise outlets are located in posh areas like Athwagate, Ring
road, andCinema road. And more offices are opened soon .
• :. Office Environment:
The ambience within the office is what can make the customer
f e e l c o m f or t a b l e i n trading. The cordial and friendly atmosphere at office is
like a full time motivation for theemployees./
PROCESS
.:. In
this service organization, the ways in which the customers receive
delivery of theservice constitutes the process. Here, the process involves adding
'value' or 'utility' sothat the customers get full satisfaction for the money spent by
them .
• :.
Here the process begins from the step when customer wants to open
online tradingaccount and ends when his account is actually activated .
• :.
All Indian residents and NRI are eligible to avail this service .
• :.
Customers can open online trading account by filling a single application form.Our
Fixed Income team for the last two years (CY 2004 and 2005) has been adjudged
the“Best Bond House” in India by both Asiamoney and Finance Asia. The equities
team wasadjudged the ‘Best Indian Brokerage House-2003’ by Asiamoney. The
Corporate Financeteam, according to Bloomberg topped the M&A league tables in
2003
PROBLEM ANLYSIS:4.1 STATEMENT OF THE PROBLEM 
Online trading and Demat are the two emerging concepts in the stock market.It
involves personal factors, technical factors, business factors and economic factors.
Theinterplay of these factors on stock market requires a deep study about the
pattern processand procedures and performance. This study is intended to identify
the various conceptsabout demat and the online trading and its way of
functioningICICI provisions are not exposing to its customers extensively.
Hence in this report anattempt has been made to link the potential customers
and the ICICI Direct .Com
4.2 OBJECTIVES OF THE STUDY
Every company has a particular goal. A study without objectives can not
reach thedestination. My project work programme was also directed to some
particular targetsand the main objective of the study are as bellow;

Study of ICICI Direct.com (online share trading)

Study of dematerialization in ICICI Capital Ltd.

Customers satisfaction and awareness of ICICI Capital Services Ltd.4.3 SCOPE OF
THE STUDY:
Globalization of the financial market has led to a manifold increase
in investment. Newmarkets have been opened; new instruments have been
developed; and new services have been launched. Besides, a number of
opportunities and challenges have also been thrownopen.
RESEARCH DESIGN OF THE STUDY
The study is based on survey technique. The study consists of analysis about
customer’sawareness and satisfaction of ICICI Capital Ltd. For the purpose of the
study customers100 are picked up and their views solicited on different
parameters. The methodologyadopted includes

Questionnaire

Random sample survey of customers

Discussions with the
concernedP e r s o n a l   i n t e r v i e w s   a n d   i n f o r m a l   d i s c u s s i o n s   w e r e   h
e l d   w i t h   I C I C I   C a p i t a l   L t d . customers to ascertain the awareness
and satisfaction level. Further applying simplestatistical techniques has
processed the data collected.
SOURCES OF DATA :

Primary data: Questionnaire

S e c o n d a r y   d a t a :   a r e   p u b l i s h e d   m a t e r i a l s   s u c h   a s   p e r i o d i c a l s ,  journa
ls, news papers, and website.
SAMPLING PLAN:

Sampling since
segment wise investors in ICICI Capital Ltd. are not available for theoverall
customers was considered for the study. 100% coverage was difficult
withint h e   l i m i t e d   p e r i o d o f   t i m e .   H e n c e   s a m p l i n g   s u r v e y
m e t h o d   w a s a d o p t e d   f or t h e  purpose of the study.

Population:
(universe) customers of ICICI Capital services Ltd.

Sampling size:
A sample of hundred was chosen for the purpose of the study. Sampleconsiders of
small investor, large investors and traders of ICICI Capital Ltd.

 
Sampling Methods:
Probability sampling requires complete knowledge about all sampling units
in the universe. Since due to time constraint non-probability samplingwas chosen
for the study.

Sampling procedure:
From large number of customers of ICICI Ltd. were randomly
picked up.

Field Study:
directly approached respondents.
4.4 DATA COLLECTION INSTRUMENTCOLLECTION OF DATA THROUGH
QUESTIONNAIRES: 
The data collected for the study purpose is through questionnaires. Hundred
customers
of I CI C I d i r e c t . c o m   h a v e   b e e n   s e l e c t e d   r a n d o m l y   f o r   t h e   s t u d y   p u r p
o s e   a n d   t h e n   t h e information revealed from the customers is analyzed and
interpreted in the study.
ORGANISATION OF FIELD WORK 
Initial field work has done for pre testing tools for data collection.
Thed a t a   i s   c o l l e c t e d   t h r o u g h   t h e   d i r e c t   i n t er a c t i o n   w i t h   t h e   I CI C I ’
s   c u s t o m e r s   t hr o u g h questionnaires answered by them. hundred
customers of ICICI were randomly chosenfor the purpose of the study
in Surat.
4.5 LIMITATION OF STUDY

Since sample size is only 100, which is not a true representative of the population
as awhole.

Since segment wise investors is not available in ICICI Capital Ltd. Overall concept
istaken for the study.

Information is partly based on secondary data and hence the authentic of
the studycan be visualized and is measurable.

Level of accuracy of the results of research is restricted to the accuracy
level withwhich the customers have given their answers and the accuracy
level of the answerscannot be predicted
DATA ANALYSIS AND
INTERPRETATIONT a b l e   N o .   5 . 1   C u s t o m e r s ’   p r e f e r e n c e   o v e r   o t h e
r   d e p o s i t o r y   s e r v i c e s   i n   I C I C I Direct.com